Elme Communities Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 04:15 pm EDT
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Elme Communities reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 56.65 million compared to USD 54.6 million a year ago. Net loss was USD 43.62 million compared to USD 10.74 million a year ago. Basic loss per share from continuing operations was USD 0.5 compared to USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.5 compared to USD 0.12 a year ago.
For the nine months, sales was USD 169.06 million compared to USD 153.79 million a year ago. Net loss was USD 49.87 million compared to USD 27.34 million a year ago. Basic loss per share from continuing operations was USD 0.57 compared to USD 0.32 a year ago. Diluted loss per share from continuing operations was USD 0.57 compared to USD 0.32 a year ago.
Elme Communities is a multifamily real estate investment trust. The Company operates in a single reportable segment which includes the ownership, development, redevelopment and acquisition of apartment communities. It owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space. Its properties include Elme Alexandria, Cascade at Landmark, Clayborne, Riverside Apartments, Bennett Park, Park Adams, The Maxwell, The Paramount, The Wellington, Trove, Roosevelt Towers, Elme Dulles, Elme Herndon, The Ashby at McLean, Kenmore Apartments, Elme Watkins Mill, Elme Germantown, Elme Eagles Landing, Elme Druid Hills and Watergate 600.
ELME COMMUNITIES 
